Community AMA with CEO Daniel Gasteiger, May 31, 2018
Question by El Sp
1) Why haven’t you (i.e. Daniel) been here in this telegram for over two months?
2) When will a detailed update and roadmap be published?
Answer by Daniel Gasteiger
Hi El Sp. I have been on the channel since the beginning but we have agreed a clear communication strategy at the beginning as well. Given my travels and day-to-day engagement with Procivis, I cannot respond on real-time queries here so it would be frustrating for people to wait for answers. In the future we do more communications like this but that depends on the roadmap details we will communicate in July.
Question by Markus — N1njaWTF
1) Which parts of the VALID Application will be stored centralized and which will be stored decentral on a distributed ledger?
2) How will valid compete and be number one across the competitors like bitsaboutme?
3) What steps will you take to build / grow the community around valid?
4) What happened with NeoID?
5) When Exchange?
Answer by Daniel Gasteiger
Hi Markus. Details on the VALID architecture will be communicated in July as per the roadmap. On the competition, we have not seen anybody with a holistic approach like ours, combining the identity piece, the data management aspect and the marketplace on a decentralized architecture. Building community will happen as soon as we have the roadmap out there and we start a global marketing campaign based on the findings of our market testing (see our community update from yesterday). NEO is part of the ongoing review on the tech options and again will be part of the roadmap update in July.
Lastly, I would like to comment on the ongoing discussion on exchanges as follows: we are in constant discussions with exchanges across the globe and try to find the optimal mix of cost, liquidity and regulatory regimes.
Question by Salina xiexie
1) What’s the marketing plan and Co-operation plan with other big enterprises for VLD
2) Can you please provide Introduction or LinkedIn for the full time technician team members, we would like to see their technical team background and strength
3) As VALID as a product, what’s your estimated sales and profit for 2018/2019/2020/2021 / 2022
4) What’s your opinion about present VLD volume and price, and what action would you take?
Answer by Daniel Gasteiger
Hi Salina! We have started discussing corporate relationships with data consumers, both here in Switzerland and in wider Europe. We also have been approached by some online advertisement agencies where we are working on potential ways to cooperate and build VALID for mutual benefit. I hope that we can communicate first agreements with the roadmap in July. On the tech team: we have added the latest additions to the VALID website recently with LinkedIn links (hover over the picture) and we will publish an interview with some of our new team members next week. As we add new members we will add them to the website as well of course. As far as the sales and profit numbers are concerned, there is no such thing as we are a non-profit endeavor. The value of the token will be driven from supply and demand mechanism depending on the value of the data in question.
As far as the current volumes and prices are concerned, they are not very meaningful given the low volumes. As soon as we have a credible roadmap and more news from the current research and planning phase, this will definitely increase our visibility and thus the interest in trading the token.
Question by Khira
Update regarding partnership with the Rohingya project?
Answer by Daniel Gasteiger
We have just had another planning meeting this morning with the NGO that works with us. The development is going hand in hand with the eID and VALID and we are working with potential international partners to help finance the project.
Question by CoOoler Man
1) Why is Valid being treated like a stock in its slow movement, yet you took an ICO process?
2) How high on your priority list is the liquidity and is there any steps taken recently to resolve that issue
3) What is your approximation to get listed on CMC?
4) Are you considering having a market maker and if not in what way will you try to push the market towards a living stage?
5) People are slowly dripping from this group chat. In what way are you considering to start growing the community and the marketing that goes with it?
Answer by Daniel Gasteiger
Hi CoOler Man. I wouldn’t say we are ‘slow moving’ but rather plan carefully in what we are ultimately communicating to build trust in our community. This simply takes time and we have a lot of focus on this since we completed the ICO of course. You can expect much more information and thus market stimulus following the roadmap presentation in July. We also have a long list of marketing activities planned for second half of 2018.
On liquidity see my other answer re listings. And for CMC it depends on the volumes (min. 100k USD transaction volume daily). Market living stage depends on the former answer about our roadmap and the MVP. And your last question: we will have much more activity starting July which will also increase the participation in this channel I am sure.
Question by George Gertchev
1) The ICO earlier in the year raised just over USD 10m. How long will this be sufficient to finance the team and the project for?
2) Once the proceeds from the ICO have been invested, what is your plan for raising funds next? Will that be mentioned in the roadmap which will be released in early July?
3) Following the announced cooperation with the Rohingya project, could you please share with us any other projects and partnerships that you are currently working on?
4) Has anything changed in your plans and vision about Procivis since the ICO?
5) How big is the team currently and do you have any plans for additional hires?
Answer by Daniel Gasteiger
Hi George! On the first question: that is exactly what we are currently planning but we are pretty confident that we can deliver our full vision. We have no plans to raise more funds since we intend to deliver the overall product with the funds at hand and have committed to issue no more tokens. On new partnerships: we have a pipeline and upcoming communications but nothing I can share with you today unfortunately. On question number 4: we have only been more reassured by the market feedback on our vision for Procivis and VALID. And lastly, we have now 23 employees being partially still on boarded and an additional 3 tech experts open in interview stages.
Final remarks by Daniel Gasteiger
Let me sum up again how excited I am about our journey so far and the announcements coming up in the next 6 weeks. While the price and market trading activities don’t reflect this yet, I am 100% convinced we have fantastic journey ahead of us with VALID and I am more committed than ever before to make this VALID vision become reality. I hope we meet personally at the many events we are planning both for VALID and Procivis and in general at Trust Square here in Zurich. We have an open door policy here for anybody coming to town to visit us.
Thanks everybody for your questions. I will be hosting more such chat sessions — ideally monthly following July roadmap update
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